Silver Consumer Electricals Files Preliminary Papers With SEBI, Seeking Approval To Raise ₹1,400 Crore
Of the fresh issuance amount, the company will use Rs 865 crore to repay or prepay its borrowings and Rs 35 crore to clear the borrowings of its subsidiary, BAPL, and the rest for general corporate purposes.
Image generated by Grok |
New Delhi: Silver Consumer Electricals Ltd (SCEL) has filed preliminary papers with markets regulator Sebi, seeking its approval to raise Rs 1,400 crore through an Initial Public Offering (IPO).The IPO comprises a fresh issue of shares worth Rs 1,000 crore and an Offer for Sale (OFS) valued at Rs 400 crore, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday.
Of the fresh issuance amount, the company will use Rs 865 crore to repay or prepay its borrowings and Rs 35 crore to clear the borrowings of its subsidiary, BAPL, and the rest for general corporate purposes. The Rajkot-headquartered SCEL is a large-scale manufacturer of electrical consumer durables, including pumps and motors, solar pumps and controllers, fans, lighting, other consumer electrical products and agricultural equipment.
ALSO READ
As of March 31, 2025, the company's installed capacity includes 24 lakh units of pumps and motors, 72 lakh units of fans, 2.19 crore units of lighting products, and 72,000 units of agricultural equipment.SCEL operates under a dual business model-- marketing its products under the "Silver" and "Bediya" brands, and designing, manufacturing, and supplying products to leading Original Equipment Manufacturers (OEMs) in India.
Motilal Oswal Investment Advisors, ICICI Securities, JM Financial and Choice Capital Advisors have been appointed as lead managers to manage the public issue.
Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.
RECENT STORIES
-
-
-
-
-